Thursday, February 4, 2010

What happens to unused campaign money in the presidential election?

Candidate usually end up owing more money than they have. If they have more money then they can hold it for political use or return it.


Up until about 1992 the politicians could take it for personal use when they retired.


Still it is very easy to take your family on a trip to the Bahamas and take it off as a campaign expense.What happens to unused campaign money in the presidential election?
It is usually rolled over to a fund for financing the next campaign (sometimes even for another office).What happens to unused campaign money in the presidential election?
I believe federal law now requires them to give the money to charities. This would probably include organizations such as Purple Heart and other non-profit government approved institutions.
If the money is donated to the candidate, he or she can either leave it in a campaign fund or claim it. They have to pay taxes but it's theirs to keep.

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